San Diego, CA (openPR) 7 August 2006
Equastone (www.equastone.com) the sale of 15 330 Avenue of Science, a study of 74 632 feet, has announced Square / research and development building in the Caramel Mountain Ranch in San Diego, CA, for $ 11,000. Located 000th A subsidiary Equastone acquired the property in July 1996 for $ 4,700,000 and a return on investment of about 33% pa for investors Equastone. The buyer was Qualitybuilt.com, a manager of construction risks. Chris Pascale of CB Richard Ellis represented Equastone in the sale and Jay Alexander of Colliers represented the buyer.
Equastone is a real estate investment company focused on acquiring and developing underperforming office buildings and industrial markets for growth and recovery in the United States. Equastone invests private equity funds on behalf of Equastone real estate and institutional investors.
Equastone Chairman David Bourne described the sale as a very opportunistic. He said, “that was the time of sale, the Avenue of Science Building 100% free with clean room and equipment installation that had become obsolete because of the outsourcing of these activities on foreign markets and other parts of the U.S. Although we originally planned, the building an office building category A, rehabilitate the sale to a user “as is” we avoided the construction and leasing risk and maximize the total return investors. “
Equastone currently owns and operates properties in California, Arizona, Colorado, Nevada and Texas. The company intends to invest 500 million U.S. dollars in 2006 and seeks investment opportunities in new markets, including Oregon, Washington, Utah and New Mexico. Offers of Investments should be directed to John Locke and Chris Stai at jlocke@equastone.com cstai@equastone.com.
Equastone invests and manages commercial real estate on behalf of the Fund Equastone Real Estate. Equastone and its affiliates have offices in San Diego, CA, Denver, CO, and Houston, TX. For more information about Equastone and Equastone Real Estate Funds, call Mykel Sprinkles at 858/812-3261 or visit www.equastone.com.
Lauren Walsh
Equastone
/ Equastone Real Estate Fund
P: 760-889-2909
F: 760-683-3136
E: lwalsh@equastone.com
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